Global alternative asset management company TPG has completed the acquisition of Hospitality Solutions, a leading hospitality technology provider, from Sabre.
The transaction is valued at $1.1bn, $960m net of taxes and fees.
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The completion of the acquisition signifies a new era for Hospitality Solutions as an independent entity with enhanced operational capabilities and resources.
The deal was conducted through TPG’s private equity platform TPG Capital, which operates in the US and Europe.
In addition, Hospitality Solutions has secured a strategic minority investment from MCR, the third-largest hotel owner-operator in the US, in conjunction with the transaction.
MCR chairman and CEO Tyler Morse will join the board of directors at Hospitality Solutions as vice-chairman.
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By GlobalDataIn a related development, Hospitality Solutions has named Teresa Mackintosh as CEO.
She is known for her leadership in the global enterprise software sector, having expanded multiple SaaS companies by fostering operational excellence and a customer focus.
Mackintosh said: “The hospitality industry is embarking on a long-overdue digital transformation, driven by hotels’ growing reliance on technology to deliver seamless and personalised guest experiences.
“Hospitality Solutions is leading this evolution with a suite of purpose-built tools that empower hotels to thrive in a tech-enabled era. It’s a privilege to join the team at this exciting moment in the company’s history, and I look forward to working together to provide dynamic solutions that allow our customers to focus on what matters most: their guests.”
TPG partners Tim Millikin and Paul Hackwell said: “Hospitality Solutions is the critical bridge between hotels and the information needed to operate efficiently and deliver tailored experiences. Teresa’s growth mindset, collaborative approach, and unique ability to drive organisational and customer-facing innovation make her the perfect leader to take the company to its next level.
“We’re thrilled to partner with MCR to support the team as they continue to shape the future of hospitality technology.”
Hospitality Solutions offers integrated software and solutions to more than 40% of hotel brands worldwide.
The SaaS platform acts as an integrated system of record for reservations and guest information, enabling hoteliers to enhance operations, distribution, retailing, and guest experiences with greater precision and efficiency.
